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By Jamie Crawley, CD Analytics|Edited by Aoyon Ashraf
Jul 16, 2025, 4:43 p.m.
- ICP rose alongside a broader market rally, gaining 7% before consolidating.
- Price hit $5.66 before entering a tight range between $5.50 and $5.58.
- A strong bounce showed buyers defending the $5.50 level.
Internet Computer
moved higher in tandem with a broad-based crypto market surge,climbing 1.89% $5.5354 after peaking at around $5.65early on Wednesday. As capital rotated into altcoins followinggains in bitcoin and ether, ICP followed suit with a 7% upswing, driven by early bullish momentum and strong support at the lower end of its range.
The 24-hour window spanning July 15 at 15:00 UTC to July 16 at 14:00 UTC saw ICP fluctuate within a $0.39 range. Volume during this rally exceeded 964,000 units, indicating robust participation from both large and small buyers as the altcoin sector gained steam.
STORY CONTINUES BELOW
After peaking, ICP transitioned into a sideways consolidation phase between $5.50 and $5.58. Two failed attempts to break above the $5.64–$5.66 resistance zone confirmed short-term exhaustion, according to CoinDesk Research’s technical analysis data model. The token remained well bid near $5.52, where fresh demand consistently emerged.
Read more: ICP Jumps 4% as Launch of AI-Powered Self-Writing Web3 Apps Platform ‘Caffeine’ Nears
This consolidation reflects similar dynamics seen across Layer 1 tokens, which are seeing profit-taking after multi-session gains but maintaining higher support zones. ICP’s ability to hold steady in a tightening range mirrors the broader market’s pause after a strong leg up.
If bullish sentiment across the crypto market continues, ICP may challenge the $5.60–$5.66 resistance band again, supported by steady inflows and its strong positioning in the decentralized computing narrative.
- ICP climbed 7% from $5.28 to $5.66 before consolidating in a $0.39 range.
- Early rally supported by 964K+ volume, matching broader altcoin strength.
- Resistance firmed at $5.64–$5.66 with two rejection attempts.
- Price stabilized in a $5.50–$5.58 channel for much of the session.
- Support formed around $5.52; buyers consistently defended this level.
- ICP rebounded from $5.50 to $5.53 in the final hour on 19.8K+ volume.
- Market structure remains bullish above $5.50 amid macro crypto strength.
- Current price: $5.5354, up 1.89% on the day.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
